Global Fashion Councils Call on Saks to Pay Independent Designers

Summary: Four major fashion groups from around the world are teaming up to send a strong message to Saks. Saks is a huge department store that recently filed for bankruptcy. Even though Saks just got a $300 million cash boost to help save its business, many small, independent clothing designers are still waiting to be paid for clothes they already delivered. The fashion groups wrote a letter to the CEO of Saks, Geoffroy van Raemdonck. They warned him that while giant brands like Chanel can survive a missed payment, small designers could go out of business completely. Saks says they are trying to rebuild trust, but strict bankruptcy rules limit who they can pay right now.

Source: Vogue URL: vogue.com/article/global-fashion-councils-call-on-saks-global-to-pay-independent-designers (opens in new tab)